Leonardo Spa ("Leonardo") announces that the US subsidiary Leonardo US Holding, Inc. ("Leonardo US Holding") has postponed the initial public offering ("IPO") of shares in Leonardo DRS, Inc. ("DRS") , an indirect subsidiary of Leonardo.
Despite the interest of investors during the roadshow, within the defined price range, the adverse market conditions did not allow for an adequate assessment of DRS.
DRS continues to be a key part of Leonardo's business portfolio and an IPO will be re-evaluated when market conditions are favorable and a successful IPO can be achieved with an appropriate valuation of this strategic business.
Leonardo continues to fully believe in DRS's prospects and to support its development within the Group.
